The D-8 Organization for Economic Cooperation, also known as Developing-8, is a development cooperation organization between Bangladesh, Egypt, Nigeria, Indonesia, Iran, Malaysia, Pakistan and Turkey. The aim of the Organisation for Economic Cooperation D-8 is to improve the position of Member States in the global economy, diversify trade relations and create new opportunities, improve participation in international decision-making processes and improve living standards. The D-8 is a comprehensive, non-regional agreement, as reflected in the composition of its members. The Organisation for Economic Cooperation (D-8) is a forum without a negative impact on Member States` bilateral and multilateral obligations as a result of their membership in other international or regional organizations. [2] The D-8 Organisation for Economic Cooperation, also known as Developing-8, is a development cooperation organization between eight member countries, namely Bangladesh, Egypt, Nigeria, Indonesia, Iran, Malaysia, Pakistan and Turkey. The publication of the facts and figures d-8 states: “The objectives of D-8 are to improve the positions of developing countries in the global economy, to diversify and create new opportunities in trade relations, to increase participation in decision-making at the international level and to improve the standard of living.” The main areas of cooperation are finance, banking, rural development, science and technology, humanitarian development, agriculture, energy, environment and health. [3] The idea of cooperation between the main Muslim developing countries was discussed by Professor Necmettin Erbakan, then Turkish Prime Minister, at a seminar on “Development Cooperation” in Istanbul in October 1996. The group has devised cooperation between countries ranging from Southeast Asia to Africa. Representatives from Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria and Pakistan attended the seminar. This conference was the first step towards the creation of the D-8 and it was only after a series of preparatory meetings that the D-8 was officially set up and began its work with the Istanbul Declaration made after the Summit of Heads of State and Government held in Istanbul on 15 June 1997. Bangladesh and Syria, adding that discussions on the same agreements were underway with other trading partners such as Malaysia, India and Pakistan.
The Commission has executive power and is made up of commissioners appointed by the government of each Member State. It is the responsibility of the Commissioners to promote compliance with the D8 directives in their respective countries. Finally, an Executive Director is appointed by D-8 members to facilitate communication and to be able to provide control at each meeting at the top or lower level of the Assembly. The summit, which is convened every two years, has the highest level of authority and consists of the leaders of each Member State. The total population of the eight countries is about 1 billion or 60% of all Muslims, or nearly 13% of the world`s population, and covers an area of 7.6 million square kilometres, or 5% of the world`s surface area. [3] In 2006, trade between D-8 Member States was $35 billion, up from about $68 billion in 2010. [4] Transactions between the eight developing countries accounted for 3.3% of world trade in 2010. [4] At a meeting of Industry Ministry deputies in Tehran on Saturday, Hamid Zadboum said that TPO planned to double trade with 15 neighbouring countries in the near future, The Shata news agency reported.